KUALA LUMPUR: The FBM KLCI ended in the red yesterday, erasing earlier gains due to late selling by foreign funds. Despite the dip, market analysts remain optimistic, expecting bargain-hunting activities to provide support, with the index projected to trend between the 1,600-1,610 range today.
On the global front, Wall Street closed mixed, as sentiment remained subdued following the latest developments in the Russia-Ukraine conflict. However, the Nasdaq outperformed, buoyed by Nvidia ahead of its earnings announcement.
In Hong Kong, the Hang Seng Index edged higher after China pledged increased financial support, including more listings of Chinese firms and improved market access. Meanwhile, the US 10-year Treasury yield eased slightly to 4.396%.
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